Cenovus Energy (NYSE:CVE) Stock Passes Above Two Hundred Day Moving Average – Should You Sell?

Shares of Cenovus Energy Inc (NYSE:CVE) (TSE:CVE) passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $16.24 and traded as high as $16.83. Cenovus Energy shares last traded at $16.7150, with a volume of 4,063,883 shares trading hands.

Analyst Upgrades and Downgrades

CVE has been the subject of a number of recent research reports. Jefferies Financial Group reiterated a “buy” rating on shares of Cenovus Energy in a research report on Tuesday, September 2nd. Morgan Stanley restated an “overweight” rating on shares of Cenovus Energy in a research report on Thursday, November 20th. Weiss Ratings reiterated a “hold (c)” rating on shares of Cenovus Energy in a report on Thursday, October 30th. Wall Street Zen raised shares of Cenovus Energy from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Finally, BMO Capital Markets set a $29.00 target price on Cenovus Energy in a report on Monday, November 17th. Four analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Cenovus Energy has an average rating of “Buy” and a consensus target price of $25.67.

Cenovus Energy Price Performance

The firm has a market cap of $31.49 billion, a price-to-earnings ratio of 13.70 and a beta of 0.52. The company has a current ratio of 1.73, a quick ratio of 1.18 and a debt-to-equity ratio of 0.25. The stock’s fifty day moving average price is $17.42 and its 200-day moving average price is $16.25.

Cenovus Energy (NYSE:CVE) (TSE:CVE) last released its quarterly earnings data on Friday, October 31st. The oil and gas company reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.12. The firm had revenue of $10.87 billion for the quarter, compared to analysts’ expectations of $12.51 billion. Cenovus Energy had a return on equity of 10.73% and a net margin of 6.23%.The firm’s quarterly revenue was down 7.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.42 earnings per share. As a group, equities research analysts forecast that Cenovus Energy Inc will post 1.49 earnings per share for the current fiscal year.

Cenovus Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th will be issued a dividend of $0.20 per share. The ex-dividend date is Monday, December 15th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.8%. Cenovus Energy’s dividend payout ratio is currently 46.72%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of CVE. Allworth Financial LP boosted its stake in Cenovus Energy by 32.2% during the third quarter. Allworth Financial LP now owns 3,025 shares of the oil and gas company’s stock worth $51,000 after buying an additional 737 shares during the period. Fulton Bank N.A. lifted its holdings in shares of Cenovus Energy by 4.4% in the 2nd quarter. Fulton Bank N.A. now owns 19,201 shares of the oil and gas company’s stock worth $261,000 after acquiring an additional 809 shares during the last quarter. Integrated Wealth Concepts LLC boosted its position in shares of Cenovus Energy by 4.5% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 21,110 shares of the oil and gas company’s stock worth $359,000 after purchasing an additional 903 shares during the period. Jones Financial Companies Lllp increased its holdings in Cenovus Energy by 16.8% in the 3rd quarter. Jones Financial Companies Lllp now owns 6,369 shares of the oil and gas company’s stock valued at $113,000 after purchasing an additional 917 shares during the last quarter. Finally, Quadrant Capital Group LLC increased its holdings in Cenovus Energy by 1.9% in the 3rd quarter. Quadrant Capital Group LLC now owns 50,111 shares of the oil and gas company’s stock valued at $851,000 after purchasing an additional 948 shares during the last quarter. Institutional investors and hedge funds own 51.19% of the company’s stock.

About Cenovus Energy

Cenovus Energy Inc is a Canadian integrated energy company engaged in the exploration, development and production of crude oil, natural gas liquids and natural gas, together with downstream refining and marketing activities. Headquartered in Calgary, Alberta, Cenovus operates a mix of oil sands thermal and dilbit assets, conventional oil and gas properties, and owns refining and midstream assets designed to move and process hydrocarbons into finished petroleum products for commercial markets.

The company was originally formed as a spin‑off from Encana Corporation in 2009 and has grown through organic development and strategic acquisitions.